Yeah. H.264 won’t work at all for multicam with FCP7 it just crashes. I thought that might happen but wanted to give it a go anyway. I might edit in FCP X, but there is no multiclip. There are some workarounds I guess. I tried converting all the footage to prores proxy using compressor but that wouldtake 11 days even on my 3.1 ghz i5 quad core iMac with 12gigs of ram.
I figured out if I use clip wrap and the original MTS and M2T files I can convert to prores proxy in just under real time. So about 22 hours.
Or I can just use FCP X, which I am considering doing, but then I won’t have the plugins I have for FCP 7. choices, choices